The Great Wall self-destructed ＂Great Wall＂？ Sue BYD’s share price fell 6% that day!

On May 25th, 2023, it is destined to enter the automobile history of China. On this day, the Great Wall issued a statement in Guanwei to report BYD; Then BYD issued a statement to fight back. In the afternoon, both stock prices fell!

Great Wall reported BYD.

May 25th is the day when BYD Song ProDM-i Champion Edition will be officially launched. More than five hours before the 15:00 pm event, the official WeChat of Great Wall Motor suddenly released a statement:

According to the statement, on April 11, Great Wall Motor submitted the report materials to the Ministry of Ecology and Environment, the State Administration of Markets and the Ministry of Industry and Information Technology, and reported that BYD (002594) Qin PLUS DM-i and Song PLUS DM-i used atmospheric fuel tanks, which was suspected of failing to meet the standard of evaporative pollutant emissions of the whole vehicle.

Subsequently, Great Wall Motor said that it was paying close attention to the filing and handling progress of the case.

Comments:

Speaking of reporting, the scene of "The Wind Blows Pinellia" suddenly appeared in my mind: Xu Pinellia spent New Year’s Eve in the detention center because of being reported for smuggling arms, and after coming out, he reported Qiu Bizheng’s company for tax evasion. For this reason, Guo Qidong, an executive of Qiu Bizheng Company, was sentenced to prison. After Guo Qidong was released from prison, Xu Banxia’s steel plant encountered many troubles: first, he was reported to have evaded taxes, then he was reported to have smuggled scrap steel, and then he was reported to have embezzled state-owned assets …

Byd counterattacked

At noon, BYD countered with a statement: "It is understood that the test vehicles were purchased, kept and arranged for inspection by Great Wall, and the China Automobile Center (Tianjin) carried out the testing of related projects according to the requirements of Great Wall. Strictly speaking, the test vehicle does not meet the requirements of the national standard, that is, it should be sampled, kept and sent for inspection by a third party, and it is required to complete the 3000 km running-in test, while the mileage of the vehicle sent for inspection by the Great Wall is only 450-670 km. In view of the above, we believe that its test report is invalid and the Great Wall cannot use it as a basis! "

BYD said that it resolutely opposes any form of unfair competition. And reserve the right to legal proceedings.

Comments:

The Great Wall report and BYD’s response have exploded the circle of friends of autobots. However, the Great Wall’s report did not go to the hot search, but BYD’s response went to Sina’s hot search list:

Share prices both fell.

Not surprisingly, in the afternoon, Great Wall Motor and BYD both dived, of which Great Wall Motor fell by 6.17% and BYD fell by 2.41%!

On the other hand, Yapu, the leader of the fuel tank, pulled up in a straight line and once closed the board, up 9.98%! The company’s flagship product is the high-pressure fuel tank.

Someone posted that BYD originally planned to replace the atmospheric fuel tank with a high-pressure fuel tank in mid-2023.

Comments:

It has always been: the snipe and the clam compete for the benefit of the fisherman.

As an old saying goes, if you kill one thousand enemies, you will lose 800. Judging from the stock price decline, Great Wall Motor fell even harder.

BYD Song ProDM-i Champion Edition is 4000 cheaper than Xiaolong.

At 3 o’clock when the stock market closed, the release conference of BYD Song ProDM-i Champion Edition began.

The lowest price announced by Song Pro is 135,800 yuan, which is 4,000 yuan cheaper than the competing Great Wall Haval Xiaolong’s 139,800 yuan.

Just 10 days ago, on May 16th, the launch conference of Haval brand new energy night and Haval Xiaolong series was held in Beijing. The Great Wall officially released the brand-new energy strategy of Haval brand and launched a brand-new energy product-Haval Xiaolong series. Its official guide price is 139,800-179,800 yuan.

Comments:

Great Wall Motor reported BYD on April 11th. It is no coincidence that BYD Song ProDM-i made another statement before the championship version went on the market on May 25th.

Have a long grudge.

On March 10th, 2023, the Great Wall held a conference called "Intelligent New Energy Dry Goods Conference". However, at this highly anticipated conference, there was no new car released, even a concept car. At the end of the conference, Great Wall Motor launched an initiative to the industry, calling for joint efforts to purify the network communication environment and launch the "10 million reward plan" to attack the "network water army". This conference was also seen as the Great Wall’s public declaration of war against BYD.

As the saying goes, there is no love for no reason, and there is no hate for no reason. The Great Wall’s "resentment" against BYD probably stems from BYD stealing the sales champion of SUV from the Great Wall.

In 2022, Haval H6, which won the SUV market sales championship for 11 consecutive years, was surpassed by BYD Song. In 2022, the sales volume of the Great Wall decreased by 16.7% year-on-year, and only 56.2% of the original sales target was achieved. On the other hand, BYD’s year-on-year growth rate exceeded 150%.

Haval H6, as a "magic car" in the SUV market, has been the champion in the SUV market for 9 consecutive years, winning the SUV sales champion for 101 months, and its monthly sales have exceeded 80,000 vehicles. However, in 2022, Haval H6 only sold 250,000 vehicles, a year-on-year decrease of 29.1%. This year, BYD Song sold 479,000 vehicles, a year-on-year increase of 137.4%, ranking first in the annual SUV sales list.

From January to April, 2023, the sales volume of BYD’s new energy vehicles was 762,000, a year-on-year increase of 94.5%. Great Wall Motor sold 313,100 vehicles in the first four months, down 7.18% year-on-year.

The two major BYD models reported by Great Wall this time: BYD Qin PLUS and Song PLUS, are the most sold models of BYD. From January to April this year, the total sales volume of BYD Qin PLUS reached 119,200 units, accounting for 15.64% of BYD’s total sales in the first four months. The total sales volume of Song PLUS in the first four months reached 127,500 units, accounting for 16.73% of the sales volume. Together, the two models account for nearly one-third of BYD’s sales.

Comments:

Dong Mingzhu, the so-called "discipline inspector" in the field of home appliances, has reported his peers many times, including Midea. Midea Group executives once said at the Shanghai dealer conference: Because Gree touched porcelain countless times, we were forced to report Gree and fight back, and we also made a statement.

Gree and Midea, although "interacting with each other", did not affect their leading position in the home appliance industry.

I hope this incident will not have a negative impact on the two companies, let alone the result of mutual reporting and revenge in "Blowing Pinellia". After all, China’s self-owned brand automobile enterprises have just gained advantages over foreign brands, so don’t self-destruct the Great Wall.